URW news and archive

Westfield owner URW announces 1.25 billion euro bond placement

The owner of London’s Westfield shopping centre has announced a 1.25 billion euro two-tranche bond placement to help it strength its liquidity position and extend its debt maturity. It includes a 650 million euro bond with a 7-year and 5-month maturity and a 0.75 percent fixed coupon, and a 600 million euro bond with a 12-year maturity and a...

Featured

Business

Westfield owner URW reports slump in Q1 turnover, but upbeat on reopened markets

The owner of London’s Westfield shopping centre said Thursday its first-quarter turnover remained “strongly impacted” by the ongoing pandemic. Property giant Unibail-Rodamco-Westfield (URW) reported a 40.8 percent drop in turnover on a proportionate basis to 566.7 million euros, down from 956.6 million euros last year, as store closures...

Featured

Business

Westfield owner to cut US presence, focus on UK estate

The owner of London’s Westfield shopping centre has said it is cutting down on its presence in the US and focusing on its UK estate as it navigates its way through the pandemic. Property giant Unibail-Rodamco-Westfield (URW), which has been heavily impacted throughout the year by global store closures, revealed Wednesday it made a recurring net...

People

Westfield owner URW names new group chief executive

Westfield owner URW has announced the appointment of Jean-Marie Tritant as chairman of the management board and group CEO, succeeding Christophe Cuvillier on 1 January. During a transition phase starting on 19 November, Tritant will hold the position of group chief operating officer. Tritant, who was most recently the president of the group’s US...

Business

Westfield owner URW responds to 'market rumours' about equity raise

Shopping mall operator and owner of Westfield London, Unibail-Rodamco-Westfield (URW), has responded to “market rumours” about a potential rights issue. A report last week by Bloomberg suggested the company was looking to raise 3.5 billion dollars (2.67 billion pounds) in fresh equity. The company's full statement read: “As detailed in its...